1.

Q. 12. Shri Ram deposited Rs. 20,000 for2years in fixed deposite account. If the rate ofinterest is 6% per year and interest is compounded half yearly, then how much wil heuch will hereceive the amount after the fixed date?

Answer»

Compount interest = 20000(1+6/100)^2*2

= 2000(106/100)⁴

= 2000*1.26247696

= 2,524.95392

Amount = 22525.95



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